Cost of Living in Greece

Greece is a country of rich history, impressive culture and architecture, amazing cuisine and established traditions. The ancient place is also well-known for its great Mediterranean climate and hospitable people, which contribute to the appealing possibilities of having a satisfying and calm, yet exciting island lifestyle.

Despite the serious crisis of 2020, Greece is still considered a country with a progressive economy that provides a well-developed job market and labour opportunities. Not only that but the costs of living in Greece are surprisingly lower compared to other European countries. From household and food outlays to healthcare and transportation expenses, the prices are quite reasonable. For example, an average of 814.3€ for monthly costs, without rent, is completely enough for a single person to live comfortably with no harsh restrictions on their spending budget.

So, whether you’re moving to Greece, or temporarily relocating, it’s a good idea to get more detailed information about what costs of living you would have as an expat.

Opening a bank account in Greece

Setting up a bank account is one of the first things you need to do when you move to a new country. After you choose a bank and arrange an appointment, it’s time to prepare the documents that you need to be able to open your Greek bank account. The bank will require the following papers:

• valid passport
• AFM (Arithmo Forologiko Mitro) number – it’s a tax number that you get from the closest to your address in Greece Tax Office
• proof of address – for example, a recent utility bill receipt
• proof of income
• reference from your previous bank in your home country
• copy of a birth certificate

The process of setting up the account is not that difficult and it doesn’t take long. But what about opening an account while you’re still in your home country? Unfortunately, Greek domestic and international banks don’t offer the service of opening an account online. You can do that only in person, so you’ll be able to set an account after you’re already in Greece.

How much is rent in Greece per month

Rent costs in Greece are relatively low, though they vary depending on the location and the type of the property. Rental homes range from modern flats to rustic houses to make you feel like you’re in a vintage movie.

You can expect to find a home at these prices:

We must mention that utility bills are not included in the cost of rent, so you’ll have to spend some additional money on them.

As to how to find a place, it’s usually an easy job. Browsing online platforms or using professional services of real estate agents is always an option, but also word-of-mouth shouldn’t be neglected. Greek people are generally very welcoming and are keen to help immigrants, so this is a way to find a home, too.

What is the average price of a house in Greece

And for those who have enough funds, buying a property is a good alternative. Here are the prices per square meter:

Of course, buying a property comes with paying some extra fees – transfer tax, registration fee, notary fee, and so on. Once you are an owner, you are allowed to rent out your apartment or a house and have some good rental income.

Cost of utility bills in Greece

Since monthly household expenses aren’t included in rent cost, let’s review them here:

These are the average costs for utility bills that a single person pays a month. For a family of three, the cost of living in Greece related to utility bills is approximately €300 per month.

Transportation expenses in Greece

Transport, no matter personal or public, is an inevitable part of everyday life. So, first, take a look at the prices of public transport tickets:

Driving your own car or any other type of vehicle in Greece is a bit challenging, but for those who intend to do so, we’re sharing the price of fuel, too. According to a report of latest data, 1L of petrol/gasoline costs 1.88 €.

Cost of necessities

When it comes to essential goods such as food, healthcare, and personal care, the cost of living in Greece remains highly affordable.

Is Greece expensive for food and drink

A great benefit of living in Greece is the access to delicious and natural food items, like seafood, olives and olive oil, fruits and vegetables, bread, etc. Here is a breakdown of the prices of basic foods that will definitely be present in your kitchen:

The prices of restaurant meals are:

Attire costs

And what about clothing and shoe expenses? Here, have a look:

Sports, leisure time, and health care costs in Greece

Of course, everyday life includes some additional expenses related to your health and entertainment activities.

Healthcare Costs in Greece

People from other countries and their relatives can receive free or affordable medical services in Greece, as long as they pay the Social Insurance Institute (IKA), which is in charge of social security in Greece. Upon starting a job, expats must apply for national health insurance through IKA, which will issue them a social security card known as AMKA. Medical services from IKA-approved providers are usually free, although patients must cover the cost of prescribed medications.

Additional benefits include complimentary laboratory services, maternity care, medical devices, and emergency transportation. Citizens from other European Union countries can also benefit from free healthcare, provided they possess a European Health Insurance Card (EHIC), which grants public health coverage for a limited duration, typically not exceeding 90 days. EU retirees receiving pensions from their home countries and planning to reside in Greece are also eligible for state health benefits. UK citizens can utilize their Global Health Insurance Card (GHIC), which has replaced the EHIC for them following Brexit.

The private healthcare sector is quite extensive, encompassing physicians in private practice who have contracts with various insurance funds, independent practitioners, and those employed in diagnostic centres, laboratories, and outpatient departments of private hospitals. Private medical institutions typically experience less impact from the national economic climate and often feature superior facilities equipped with the latest technology. Additionally, healthcare professionals in private hospitals are more likely to be proficient in English. However, it is important to note that treatments in these private facilities are not reimbursed by IKA and can be costly. Many Greeks and expatriates opt for private health insurance to cover medical expenses that the public health system does not address.

Takeaways

The cost of living in Greece is quite cheap compared to other countries. The country offers an excellent variety of cities to live in, depending on whether you’re searching for a place with breathtaking beaches, a warm climate, delicious food, and an easygoing life at low costs.

So, if you already planning your international move to this wonderful Mediterranean country, don’t hesitate to contact our removal company. Our team will help you with the relocation process and provide all the necessary services to make your move stress-free.

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